ADM Tronics Reports First Quarter of Fiscal Year 2025 Results
Rhea-AI Summary
ADM Tronics Unlimited, Inc. (OTCQB:ADMT) reports positive financial results for the first quarter of Fiscal Year 2025 ended June 30, 2024. Key highlights include:
- Revenue increased by 12% to $857,845 compared to $762,689 in the same period last year
- Net profit of $272,168, a significant improvement from a net loss of $132,261 in the previous year
- Profit from operations of $164,281, compared to a loss of $137,796 in the same quarter last year
- Gross profit increased to $520,903 from $325,142
ADMT completed R&D for its Vet-Sonotron® device and is advancing the human medical version. The company plans to pursue FDA 510(k) submission for the human Sonotron®, targeting non-drug pain treatment.
Positive
- Revenue increased by 12% year-over-year to $857,845
- Net profit of $272,168 compared to a net loss of $132,261 in the previous year
- Profit from operations of $164,281, a 119% increase from the previous year's loss
- Gross profit increased to $520,903 from $325,142
- Completed R&D for Vet-Sonotron® device and advancing human medical version
Negative
- R&D expenses remained relatively unchanged at $127,993
News Market Reaction 1 Alert
On the day this news was published, ADMT gained 11.46%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
NORTHVALE, NJ / ACCESSWIRE / August 19, 2024 / ADM Tronics Unlimited, Inc. (OTCQB:ADMT), a technology-based developer and manufacturer of innovative technologies and products, announces results for its first fiscal quarter ended June 30, 2024 of Fiscal Year 2025.
ADMT achieved a profit for the first quarter of Fiscal Year 2025, as compared to loss for the same period last year. Revenues increased over
ADMT completed R&D and engineering efforts of its' Vet-Sonotron ® non-invasive pain treatment device for the veterinary market during the last quarter of fiscal year ended March 31, 2024. (www.vet-sonotron.com) The Company then directed additional R&D and engineering activities to advance the development of the human medical version of this innovative therapeutic technology. As a result, R&D expense for the quarter ended June 30, 2024 was comparable to the same period last year. The Company plans on pursuing a 510(k) submission to the FDA when development of the human medical version is completed. The Sonotron ® is being developed for use on humans where the need for effective pain treatment without the use of drugs or opioids is very large and unmet.
Revenues for the quarter ended June 30, 2024, were
Financial Highlights
| Three Months Ended |
| Three Months Ended |
| ||
| June 30, 2024 |
| June 30, 2023 |
| ||
Net Revenues | $ | 857,845 |
| $ | 762,689 |
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Cost of sales |
| 336,942 |
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| 437,547 |
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Gross Profit |
| 520,903 |
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| 325,142 |
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Operating expenses: |
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Research and development |
| 127,993 |
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| 130,587 |
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Selling, general and administrative |
| 228,629 |
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| 332,351 |
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Total operating expenses |
| 356,622 |
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| 462,938 |
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Profit (loss) from operations |
| 164,281 |
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| (137,796 | ) |
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Total other income |
| 108,387 |
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| 5,535 |
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Profit (loss) before provision for income taxes |
| 272,668 |
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| (132,261 | ) |
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Total benefit (provision) for income taxes |
| 500 |
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| - |
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Net profit (loss) | $ | 272,168 |
| $ | (132,261 | ) |
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Basic and diluted earnings (loss) per common share | $ | 0.00 |
| $ | (0.00 | ) |
Weighted average shares of common stock outstanding - basic and diluted |
| 67,588,492 |
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| 67,588,492 |
|
About ADMT
ADMT is a diversified, technology-based developer and manufacturer of innovative technologies and products. Its core competency is its ability to conceptualize a technology, bring it through development, into manufacturing and commercialization, all in-house. ADMT has three areas of activity: Proprietary Electronic Medical Devices; Design, Engineering, Regulatory and Manufacturing Services; and, Eco-Friendly, Safe, Water-Based Formulations. The Company's headquarters, laboratories, and FDA-Registered medical device manufacturing operations are located in Northvale, NJ. ADMT's multi-disciplinary team of engineers, researchers and technologists utilize advanced technology infrastructure, for the research, development and commercialization of diversified technologies. Additional information is available at admtronics.com
ADMT welcomes inquiries for its electronics and medical device contract engineering and manufacturing services at www.admteng.com.
To receive ADMT email updates, complete form at https://admtronics.com/investor-relations/
Sonotron ® is a registered trademark of ADM Tronics Unlimited, Inc.
Except for historical information contained herein, the matters set forth in this news release are "forward-looking" statements (as defined in the Private Securities Litigation Reform Act of 1995), including statements regarding future revenue growth and performance. Although ADMT believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, there can be no assurance that its expectations will be realized. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from expectations. Factors that could contribute to such differences include those described from time to time in ADMT's filings with the SEC, news releases and other communications. The Company assumes no obligation to update the information contained in this news release.
For more information - Investor Relations:
Howard Isaacs 562-987-4939 HISAACS@EARTHLINK.NET
Richard Cavalli 303-956-1777 RICHARDACAVALLI@GMAIL.COM
SOURCE: ADM Tronics Unlimited Inc.
View the original press release on accesswire.com
FAQ
What was ADMT's revenue for Q1 FY2025?
How much profit did ADMT report for Q1 FY2025?
What is the status of ADMT's Vet-Sonotron device development?
Is ADMT planning to seek FDA approval for its Sonotron device?
